WPTE Gets Extension

When a company is listed in the NASDAQ on Wall Street, there are some simple rules that a company must follow. The simplest rule to remember is your company must consistently trade above $1. Well because of the economy, World Poker Tour Enterprises has had trouble staying above $1 on a consistent basis.

Since the closing bell on August 14, WPTE has known that it had 180 days to get its listing price to trade above $1 for 10 consecutive days. Which it would get close to trading above $1, but it would never actually breakthrough. The closest that it came to trading about $1 was it reached 0.80 cents before it started dropping off again.

Well World Poker Tour Enterprises got some great news this following week. NASDAQ has officially suspended this ruling due to the struggling economy. So now World Poker Tour Enterprises will have now till mid May to get their listing price to start trading above the $1 mark for 10 consecutive days. Now even though they have till mid May they still might not be delisted if they fail to reach the trading mark of above $1, but it would not be to long after the month of May.